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How to Transfer Demat Account Shares from One Broker to Another?

20. July 2021 Sandeep Stock Market Research (0)

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Demat accounts have completely transformed the stock market in India. Shares were traded earlier in the form of paper certificates and were very difficult for investors to preserve and trade in them. With the dematerialization of securities, the trading mechanism was electrified, and stock trading became relatively easier.

How to Transfer Demat Account Shares from One Broker to Another?

Demat accounts are opened on depositories through depository participants or DPS. There are two depositories in India namely NSDL and CDSL. Depository participants are participating members of depositories who are authorized for opening and managing Demat accounts of clients. There are hundreds of depository participants available and an investor can choose any one depending on the facilities and charges.

However, once you have your Demat account in place and you start trading, there are chances that you can get a better Demat account from another depository participant or your current DP is not proving you the services as promised. In such a case, you will surely look forward to changing your Demat account. Opening a new Demat account is relatively easy but transferring your holdings from your old Demat account to a new one is not.

Let us now discuss the ways and steps of transferring your stocks and holdings from one Demat account to another.

Transferring Holdings

There can be various reasons for transferring your holdings from one Demat account to another. You have multiple Demat accounts and want to merge all your holdings into one, or it can be the other way around, you want to segregate your holdings into multiple accounts. Whatever be the reason, there can be two types of transfers that are possible – Inter-depository transfer and intra-depository transfer.

Intra-Depository Transfer - Your current Demat account was with NSDL and your new Demat account is on CDSL or vice versa. Now you want to transfer your holdings between two different depositories. Such a transfer is known as inter–depository transfer.
Inter-Depository Transfer - This is relatively easy because your old Demat account and new Demat account are both with the same depository. Such a transfer of holdings is known as intra – depository transfer. Now, you can transfer your securities from one Demat account to a new Demat account using a manual offline method or an online method. Let us now discuss both of them in detail.

Manual (Offline) method

The manual method for transferring holdings from one Demat to another requires some paperwork. The first and foremost step is to obtain the DIS (Delivery Instruction Slip) from your broker. Once you have the DIS, you need to obtain the BOID (Beneficiary Owner ID) number. This is a 16-digit number that serves as an ID of your broker. SO, there will be two different BO IDs, first for your old Demat provider and the second one for the new one.

Once you have all these sorted, you need to have the ISIN (International Security Identification Number) of each share that you want to transfer. Now if both your Demat accounts are with the same depository you need to choose the off-market transfer option, else it will be an inter-depository transfer.

Once you have accumulated all the information, you need to fill up the transfer form available with your broker and provide your consent signature. The signature should match with the one which you provided at the time of opening the Demat account.

If you are closing the old account, the broker will not charge any fee for this transfer otherwise the broker may charge you some amount as a transfer fee.

Online Method

The CDSL has introduced an online method for transferring securities known as EASIEST. As the name suggests it is an easy process to transfer your holdings from one Demat account to another.

You simply need to register yourself on the CDSL website under the EASIEST option by providing all the requisite details. AT the end of the registration you will come across a form with all the details. All you need to do is to take a printout of the form and submit it to your depository participant. The depository participant will send it to the depository, which will approve it after verification of the details. Once the information is verified, you will receive an email containing your login credentials.

You can now use these credentials to log in to the EASIEST portal. Once you have logged in you will see a list of all the depository participants. You can select your broker from the list and transfer your holdings and securities.

Tax Implications

Since the securities are transferred between two different Demat accounts of the same person, there are no extra tax implications on such transfers. However, the Capital Gain Tax for such securities will be calculated from the first day of the purchase of stock and will be unaffected by the transfer.

Conclusion

Transferring securities in dematerialized form is an easy process and investors can transfer their securities if they wish to change their Demat account for any reason. If you want more help an investment advisor can guide you with the process of transfer and also help you in trading by providing research-based trade recommendations.

Happy Investing!

Share Market Closing Note

20. July 2021 Sandeep Stock Market Research (0)

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Nifty ends below 15,700, Sensex falls 354 pts; metal, realty worst hit.

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Topic :- Time:3.00 PM

NSE and BSE will remain close tomorrow on the account of Bakri Id. Traders are advised not to take any short positions overnight and should stay long in the market. Nifty spot if manages to close above 15620 levels then good pullback can be seen in the market in coming sessions. This decline should be used as an opportunity to go long in the market.

Stocks to watch out for as BTST(Buy Today Sell Tomorrow:

1. GRASIM

2. DLF

3. BANKNIFTY

4. AUROPHARMA

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Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4970. If it breaks and trades below the 4960 levels then expect some decline in it and if it manages to trade and sustain above the 4990 levels then some upmove can be seen in it.

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Topic :- Time:2.00 PM

Nifty is trading at 15669. If it manages to trade and sustain above 15700 levels then expect some upmove and if it breaks and trades below 15640 levels then some decline can be seen in the market.

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Topic :- Time:1.00 PM

Nifty is showing some recovery. Nifty spot if manages to trade and sustain above 15680 levels then expect some sharp upmove and if it breaks and trades below 15640 levels then some decline can be seen in the market.

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Topic :- Time:12.40 PM

COPPER Trading View:

COPPER is trading at 720.40. It will find immediate resistance to upmove at 722 level. If it holds below 722 level then it is likely to fall till 716 level quite soon. Sell on every rise till it holds below 722 is recommended in it.

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Topic :- Time:12.30 PM

Future Trading View:

GRASIM Future is trading at 1566. It is facing stiff resistance at 1581-1582 levels. Once it manages to trade and hold above 1585 then it is likely to hit the 1620 level very soon. If Grasim's future fails to trade and sustain above the 1585 level then it can decline.

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Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex drops 450 points, Nifty gives up 15,600; banks, metals skid

2. Only half of UDAN routes operational, Covid to hit scheme further: ICRA

3. Cairn Energy arbitration case: Riders to invoking sovereign immunity

4. AGR dues cannot be recomputed: Supreme Court reserves order

5. Covid-19 in numbers Cases 31,174,322 | Deaths 414,482 | Vaccination 411,846,401

6. ACC surges 7%, hits new high on strong operational performance in Q2

7. HCL Technologies dips 2% as company reports lower-than-expected Q1 results

8. Sebi, DRI probing some Adani Group firms for non-compliance of rules: Govt

9. MF industry AUM pegged to touch Rs 92 trillion by 2030

10. Retail activity at 50% of pre-Covid levels in June despite unlocking

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Topic:- Stocks under F&O ban on NSE

1. Cadila Healthcare

2. Indiabulls Housing Finance

3. NALCO

4. NMDC

5. Punjab National Bank

6. SAIL

7. Sun TV Network

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Topic:- Stocks in News

HCL Technologies: The company reported higher consolidated profit at Rs 3,214 crore in Q1FY22 against Rs 2,962 crore in Q4FY21, and revenue rose to Rs 20,068 crore from Rs 19,642 crore QoQ. The company maintained FY22 constant currency revenue growth guidance of double digits and EBIT margin guidance of 19-21 percent.

ACC: The company reported sharply higher profit at Rs 533.8 crore in Q2CY21 against Rs 268 crore in Q2CY20. Revenue jumped to Rs 3,884.8 crore from Rs 2,600.8 crore YoY.

Zen Technologies: The company secured an export order of Rs 120 crore.

Laurus Labs: Amanda Holdings Pvt Ltd & Amansa Investments Ltd sold 0.63 percent stake in the company via an open market transaction on July 15, reducing shareholding to 3.84 percent from 4.46 percent.

Jindal Stainless: Tata Steel Mining and Jindal Stainless signed MoU for a unique partnership for mining of common boundary in Sukinda, Odisha.

Nippon Life India Asset Management: The company reported higher consolidated profit at Rs 181.54 crore in Q1FY22 against Rs 156.30 crore in Q1FY21, and revenue jumped to Rs 302.27 crore from Rs 233.12 crore YoY.

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Topic:- Results on July 20

Bajaj Finance, Asian Paints, Arihant Superstructures, CRISIL, DCM Shriram, ICICI Prudential Life Insurance Company, ICICI Securities, India Tourism Development Corporation, JSW Ispat Special Products, Jubilant Ingrevia, Kohinoor Foods, Mangalam Organics, Moschip Technologies, Newgen Software Technologies, Reliance Industrial Infrastructure, Rane (Madras), Shyam Metalics and Energy, and Syngene International will release quarterly earnings on July 20.

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Topic:- Nifty Opening Note

Indian Stock Market Trading View For 20 July 2021:

Nifty to trade volatile and is likely to follow global cues. Nifty spot if manages to trade and sustain above 15800 levels then expect some up move in the market and if it breaks and trades below 15700 levels then some decline can follow in the Nifty.

Please note this is just an opening view and should not be considered as the view for the whole day.

Also read:- Get Live Indian Stock Market Tips At Sharetipsinfo

Odisha govt approves Rs 95 crore for school infrastructure development

20. July 2021 Sandeep Stock Market Research (0)

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A teacher and students, wearing hats designed for space keeper, practice social distancing to help curb the spread of the coronavirus at Ban Pa Muad School in Chiang Mai, north of Thailand, on July 3, 2020. (AP Photo/Wichai Taprieu)

A teacher and students, wearing hats designed for space keeper, practice social distancing to help curb the spread of the coronavirus at Ban Pa Muad School in Chiang Mai, north of Thailand, on July 3, 2020. (AP Photo/Wichai Taprieu)

The Odisha government-approved projects worth Rs 95 crore to develop school infrastructure in 23 districts of the state, officials said on Tuesday.

The approval was given on Monday at the 26th Executive Council meeting of Mo School Abhiyan, they said.

Alumni members along with various philanthropic organizations contributed Rs 11.56 crore for the development of the government-run schools across the state.

In addition, financial aid of Rs 20 crore was granted to Mo School Abhiyan by various CSR funds.

The council approved projects worth Rs 94.70 crore, officials said.

Meanwhile, a special academic committee was set up to recommend strategies for the academic enrichment of schools.

Article Source:- Moneycontrol

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